Wedbush Weighs in on Mr. Cooper Group Inc.’s Q3 2024 Earnings (NASDAQ:COOP)

Mr. Cooper Group Inc. (NASDAQ:COOP) – Research analysts at Wedbush upped their Q3 2024 earnings per share estimates for Mr. Cooper Group in a research note issued on Thursday, April 25th. Wedbush analyst J. Mccanless now anticipates that the company will earn $2.47 per share for the quarter, up from their prior estimate of $2.29. Wedbush currently has a “Outperform” rating and a $100.00 target price on the stock. The consensus estimate for Mr. Cooper Group’s current full-year earnings is $9.24 per share. Wedbush also issued estimates for Mr. Cooper Group’s Q4 2024 earnings at $2.27 EPS, Q1 2025 earnings at $2.56 EPS, Q2 2025 earnings at $2.84 EPS, Q3 2025 earnings at $2.95 EPS, Q4 2025 earnings at $2.95 EPS and FY2025 earnings at $11.30 EPS.

Several other research firms have also recently commented on COOP. Deutsche Bank Aktiengesellschaft increased their price objective on Mr. Cooper Group from $88.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday. Jefferies Financial Group increased their price objective on Mr. Cooper Group from $74.00 to $80.00 and gave the company a “hold” rating in a research report on Friday, April 19th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $92.00 price objective (up from $86.00) on shares of Mr. Cooper Group in a research report on Thursday. Finally, Barclays increased their price objective on Mr. Cooper Group from $85.00 to $94.00 and gave the company an “overweight” rating in a research report on Thursday. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $82.22.

Mr. Cooper Group Trading Down 0.0 %

NASDAQ COOP opened at $78.73 on Friday. Mr. Cooper Group has a 12 month low of $41.74 and a 12 month high of $81.98. The stock has a market cap of $5.10 billion, a P/E ratio of 8.24 and a beta of 1.38. The stock’s fifty day moving average price is $75.09 and its 200-day moving average price is $66.73.

Mr. Cooper Group (NASDAQ:COOP) last released its earnings results on Wednesday, April 24th. The company reported $2.28 EPS for the quarter, topping analysts’ consensus estimates of $2.11 by $0.17. Mr. Cooper Group had a return on equity of 13.31% and a net margin of 31.75%. The firm had revenue of $564.00 million for the quarter, compared to analysts’ expectations of $498.15 million.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Exchange Traded Concepts LLC raised its stake in shares of Mr. Cooper Group by 1.4% in the fourth quarter. Exchange Traded Concepts LLC now owns 12,642 shares of the company’s stock worth $823,000 after buying an additional 180 shares during the period. GAMMA Investing LLC raised its stake in Mr. Cooper Group by 20.6% during the 1st quarter. GAMMA Investing LLC now owns 1,085 shares of the company’s stock valued at $85,000 after purchasing an additional 185 shares during the period. Arizona State Retirement System raised its stake in Mr. Cooper Group by 1.5% during the 4th quarter. Arizona State Retirement System now owns 18,688 shares of the company’s stock valued at $1,217,000 after purchasing an additional 279 shares during the period. Assetmark Inc. raised its stake in Mr. Cooper Group by 3.2% during the 4th quarter. Assetmark Inc. now owns 9,736 shares of the company’s stock valued at $634,000 after purchasing an additional 299 shares during the period. Finally, AlphaMark Advisors LLC raised its stake in Mr. Cooper Group by 6.9% during the 1st quarter. AlphaMark Advisors LLC now owns 4,675 shares of the company’s stock valued at $364,000 after purchasing an additional 301 shares during the period. Institutional investors own 89.82% of the company’s stock.

Insiders Place Their Bets

In other Mr. Cooper Group news, CEO Jesse K. Bray sold 25,000 shares of the firm’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $67.56, for a total value of $1,689,000.00. Following the transaction, the chief executive officer now directly owns 391,051 shares of the company’s stock, valued at $26,419,405.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Jesse K. Bray sold 25,000 shares of the firm’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $67.56, for a total value of $1,689,000.00. Following the transaction, the chief executive officer now owns 391,051 shares of the company’s stock, valued at $26,419,405.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Michael S. Weinbach acquired 17,000 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The stock was bought at an average cost of $71.16 per share, for a total transaction of $1,209,720.00. Following the purchase, the president now directly owns 17,000 shares of the company’s stock, valued at $1,209,720. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 75,000 shares of company stock valued at $5,431,500. Insiders own 2.33% of the company’s stock.

Mr. Cooper Group Company Profile

Mr. Cooper Group Inc engages in non-banking services for mortgage loans the United States. The company operates through Servicing and Originations segments. The Servicing segment performs activities for underlying mortgages, including collecting and disbursing borrower payments, investor reporting, customer service, and modifying loans.